Bessemer Group Inc. Acquires 99,740 Shares of Sea Limited (NYSE:SE)

Bessemer Group Inc. lifted its holdings in shares of Sea Limited (NYSE:SE) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,411,934 shares of the Internet company based in Singapore’s stock after purchasing an additional 99,740 shares during the period. SEA accounts for about 1.3% of Bessemer Group Inc.’s portfolio, making the stock its 13th biggest position. Bessemer Group Inc.’s holdings in SEA were worth $538,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SE. Price T Rowe Associates Inc. MD increased its holdings in SEA by 17.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,206,713 shares of the Internet company based in Singapore’s stock worth $6,407,770,000 after purchasing an additional 4,847,575 shares in the last quarter. Norges Bank acquired a new stake in shares of SEA during the 4th quarter worth approximately $548,158,000. Morgan Stanley increased its stake in shares of SEA by 53.1% in the 4th quarter. Morgan Stanley now owns 6,170,453 shares of the Internet company based in Singapore’s stock valued at $1,228,228,000 after acquiring an additional 2,139,631 shares in the last quarter. Jennison Associates LLC lifted its position in shares of SEA by 130.4% during the 1st quarter. Jennison Associates LLC now owns 3,289,256 shares of the Internet company based in Singapore’s stock valued at $734,261,000 after acquiring an additional 1,861,814 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of SEA by 1,455.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,596,337 shares of the Internet company based in Singapore’s stock valued at $317,751,000 after acquiring an additional 1,493,737 shares during the period. 51.39% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:SE traded up $11.89 during mid-day trading on Thursday, hitting $292.77. 137,075 shares of the company traded hands, compared to its average volume of 3,983,057. The firm’s 50-day moving average price is $252.49. Sea Limited has a 12-month low of $100.66 and a 12-month high of $286.60. The stock has a market cap of $149.88 billion, a PE ratio of -82.10 and a beta of 1.31. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.76 and a current ratio of 1.78.

SEA (NYSE:SE) last posted its quarterly earnings data on Tuesday, May 18th. The Internet company based in Singapore reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.06). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.68 billion. SEA had a negative return on equity of 82.81% and a negative net margin of 32.54%. SEA’s revenue was up 146.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.61) earnings per share. As a group, research analysts forecast that Sea Limited will post -2.44 earnings per share for the current year.

SE has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of SEA in a research note on Wednesday, June 16th. They issued an “outperform” rating for the company. Macquarie raised SEA from a “neutral” rating to an “outperform” rating and set a $280.00 target price for the company in a research report on Monday, March 15th. Stifel Nicolaus increased their price target on SEA from $225.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, March 3rd. Zacks Investment Research downgraded SEA from a “hold” rating to a “sell” rating in a report on Thursday, May 27th. Finally, Bank of America raised SEA from a “neutral” rating to a “buy” rating and upped their target price for the stock from $260.00 to $340.00 in a research report on Thursday, June 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $228.00.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It provides Garena digital entertainment platform for users to access mobile and PC online games, as well as eSports operations; and access to other entertainment content, such as livestreaming of gameplay and social features, such as user chat and online forums.

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Institutional Ownership by Quarter for SEA (NYSE:SE)

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